MAPLE MOMENTUM – March | Investment Attraction in New Brunswick
The World’s Best Are Making Their Move to New Brunswick, Canada
TD Bank Group, one of Canada’s largest international banks, announced in April 2018 the creation of a nearshore finance operations centre that will employ over 1,000 people in the Canadian province of New Brunswick. The world’s most successful companies are taking advantage of the nearshore value proposition offered by New Brunswick. In fact, most of Canada’s major banks now have strategic nearshore shared services centres in New Brunswick servicing their national and international footprints.
Advantageously located on Canada’s beautiful East Coast, the province easily enables international companies to support their global footprint and service clients across North America and Eurasia in the same business day. Combine that advantage with low costs of doing business and everything is in place to be successful operating from New Brunswick.
KPMG has consistently recognized New Brunswick cities among the lowest cost jurisdictions overall in North America. When total operating costs such as lease, labour, utilities, and taxes are considered, New Brunswick is the lowest cost option on either side of the border.
Now is the Time to Make Your Move
Across sectors, international businesses are taking note of New Brunswick. From IT and Cybersecurity to Financial Services and Fintech to Advanced Manufacturing and Digital Health, the province’s location, infrastructure, research capacity, and wealth of skilled talent are attracting a critical mass of world-class companies.
The province’s strategic nearshore value proposition has attracted many top American and international companies including Salesforce.com, IBM, HCL Technologies, Xerox, Hinduja Global Solutions, ExxonMobil, FedEx, and UPS.
July 2018 saw Tech Mahindra, one of India’s largest IT companies, select New Brunswick as the location for its strategic nearshore operation. “The inauguration of our centre in New Brunswick marks a new milestone for Tech Mahindra’s international footprint and underlines the strong spirit of co-operation with the local authorities,” said company president Ritesh Idnani. “This is an exciting growth hub globally and offers enormous opportunity for not just Tech Mahindra, as one of the leading companies in business process services, but also the community at large.”
Source: MAPLE MOMENTUM – March | Investment Attraction in New Brunswick
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